Tema ETFs LLC Has $473,000 Stock Position in Expand Energy Corporation $EXE

Key Points

• Tema ETFs LLC cut its Expand Energy position by 94.3% in the second quarter, selling 86,408 shares and retaining 5,184 shares valued at approximately $473,000. Institutional investors collectively own 97.93% of the company.
• Analysts maintain a generally positive view, with Expand Energy carrying a “Moderate Buy” consensus rating and an average price target of $128.12. Recent targets range from $109 to $121, while Benchmark lowered its target but kept a Buy rating.
• Expand Energy beat quarterly earnings expectations, reporting $1.33 in EPS versus the $1.13 consensus, though revenue of $2.96 billion fell short of estimates. The company also declared a quarterly dividend of $0.575 per share, representing a 2.4% annualized yield.

Tema ETFs LLC reduced its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 94.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,184 shares of the company's stock after selling 86,408 shares during the period. Tema ETFs LLC's holdings in Expand Energy were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sierra Summit Advisors LLC grew its holdings in shares of Expand Energy by 25.9% during the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company's stock valued at $8,523,000 after purchasing an additional 15,904 shares during the last quarter. King Luther Capital Management Corp increased its position in Expand Energy by 16.6% during the 4th quarter. King Luther Capital Management Corp now owns 239,607 shares of the company's stock worth $26,443,000 after purchasing an additional 34,132 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Expand Energy by 36,574.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock valued at $267,172,000 after purchasing an additional 2,414,311 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Expand Energy in the 4th quarter valued at approximately $57,153,000. Finally, Sei Investments Co. boosted its position in Expand Energy by 86.9% in the first quarter. Sei Investments Co. now owns 251,984 shares of the company's stock valued at $27,663,000 after buying an additional 117,163 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EXE has been the topic of a number of research reports. Benchmark decreased their target price on shares of Expand Energy from $124.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday. Wolfe Research reiterated an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. William Blair downgraded Expand Energy from an "outperform" rating to a "market perform" rating in a report on Thursday, April 30th. Truist Financial raised their price objective on Expand Energy from $117.00 to $121.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Citigroup reduced their price objective on Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.12.

Insider Activity at Expand Energy

In other Expand Energy news, CEO Michael Wichterich acquired 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the purchase, the chief executive officer directly owned 85,498 shares in the company, valued at $7,600,772.20. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.22% of the company's stock.

Expand Energy Stock Up 0.1%

Shares of NASDAQ EXE opened at $94.78 on Friday. The company has a 50 day simple moving average of $90.24 and a 200 day simple moving average of $98.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Expand Energy Corporation has a 1 year low of $84.99 and a 1 year high of $126.62. The firm has a market cap of $21.94 billion, a PE ratio of 8.18 and a beta of 0.34.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.05 billion. On average, research analysts forecast that Expand Energy Corporation will post 8.92 EPS for the current year.

Expand Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy's payout ratio is 19.86%.

Expand Energy Company Profile

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.

Want to see what other hedge funds are holding EXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expand Energy Corporation (NASDAQ:EXE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source